Condo Sellers Priced Right in the West Loop: Neighborhood Update

Start your West Loop home search here.

West Loop

Housing Type: Condo

Sellers continue to enjoy short listings times as we have been seeing in the West Loop. Not only are market times typically under a month, but homes are also selling for asking price. There are plenty of buyers and most sellers are taking advantage of that by listing their homes for market value. The median sales price for condos in the West Loop was $435,388.

 

Price Range: $400,000-$800,000 

Price Range: $800,000+

 

 

 

West Loop

Housing Type: Townhome

The time that it is taking townhomes to sell ranges from a few weeks to a few months, even in the same price range. Sellers of townhomes could learn from the condo market where we are seeing homes sell quickly at asking price. The townhomes are averaging 96.3% of asking price. If the sellers lower their prices just a little bit they can also see fast sales at asking price. The median sales price for townhomes was $1,215,000.

 

Price Range: $400,000-800,000

 

Price Range: $800,000+

  

West Loop

Housing Type: Single Family

The two homes that are currently available are both new construction. One is ready for occupancy and the other will be ready next month. The home that is under contract has a market time of just 38 days.

 

Price Range: $800,000+

 

Start your West Loop home search here.

 

*In this blog series we focus on one of twenty neighborhoods in Chicago, each day, and provide charts to give you a brief update on the activity that neighborhood has seen over the past month in a variety of price ranges for Single Family Homes, Townhouses, and Condos, as available.

When looking at these charts please keep in mind that not every housing type is available in every neighborhood (the Loop does have houses) and some homes compete within even smaller subsections than these, meaning we can dig even further in this data. Please let me know if you would like a personal assessment of your target market.


For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!

Price Range: $800,000+

 

Terri Buseman

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • October 08 2017 04:30PM

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